HONG KONG, Sept. 25, 2009 (GLOBE NEWSWIRE) -- Sino Payments, Inc. (OTCBB:SNPY) is in the process of completing the system update and install of the Sino Payments Global Processing Platform (GPP) in Shanghai.
Matthew Mecke, Chairman & CEO of Sino Payments stated, "We have been working for over a year now to get the most updated version of Sino Payments Global Processing System installed in Shanghai and we are working closely with our partner PowerE2E to make this happen soonest. We have made a great deal of progress recently and hope to be working on and soon completing the final integration with back end industry gateways to complete the process of providing debit and credit card processing for both customers in China as well as just about anywhere internationally with our Global Processing Platform. Our attention is now on completing this current update and with the final integration of our system with international gateways.
"Once this technical system completion and related gateway implementations are done, we expect to ramp up considerably our business development efforts on multiple fronts across Asia. We will provide additional information and updates when we have completed this phase and move to live client processing."
About Sino Payments, Inc. (www.sinopayments.com)
Sino Payments is a Nevada incorporated U.S. Company with offices in Hong Kong in addition to this Macau office. Sino Payments' proprietary IP transaction processing system (SinoPay GPP) was designed to convert transaction processing systems from old type dial up point of sale systems connected to sophisticated check out terminals to a modern seamless IP transaction process, thereby reducing credit and debit card transaction processing times by half at checkout. Sino Payments focuses on providing IP credit and debit card processing services to large retail chains in China and throughout Asia including supermarket chains and large regional multinational retailers.
The Sino Payments, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6215
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Except for factual statements made herein, the information contained in this press release consists of forward-looking statements that involve risks and uncertainties, including the effect of changing economic conditions, competition within the credit and security industry, customer acceptance of products and other risks and uncertainties. Such forward-looking statements are not guarantees of performance, and Sino Payments, Inc. results could differ materially from those contained in such statements. These forward-looking statements speak only as of the date of this release, and Sino Payments, Inc. undertakes no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.